Sri Lanka opposition asks for debate over alleged bond market fraud

COLOMBO (EconomyNext)  – Sri Lanka’s opposition parties have asked for a debate on alleged insider dealing in bond markets claiming that a committee appointed by the administration was not independent.

Prime Minister Ranil Wickramasinghe said the lawyers appointed had decades of experience in law, and if necessary they could get advice on financial matters. One of the members had advised former finance minister K N Choksy on a financial law.

Wickramasinghe said there were many frauds committed by the previous administration.

"They were bigger rogues than us", he said.

Wickramasinghe said as a firm believer that the parliament had control over finances he will table the report of the investigation committee in parliament and they could even appoint a select committee.

He said he was prepared to cancel the license of a company if wrongdoing was found or even send anyone home.

Wickramasinghe said Governor Mahendran was now on leave.

Opposition leader Nimal Siripala de Silva charged that the Prime Minister in his answer had side-stepped the question raised by the opposition and asked for a debate.

Wickramasinghe said if the opposition wanted a debate before the report was available he was prepared to accommodate their wishes.